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Page 4 <br />Regular meeting of the Elk River Municipal Utilities Commission <br />May 10, 2011 <br />AI Nadeau moved to accept the CMMPA Transmission Owner Services and Asset Assignment <br />Agreement. Daryl Thompson seconded the motion. Motion carried 3-0. <br />Daryl Thompson moved to approve Resolution 11-02 with CMAVA and to present it to the Elk <br />River City Council with recommendation for approval. A➢ Nadeau seconded the motion. <br />Motion carried 3-0. <br />5.1 Review Reserve Balances and Policy <br />Per the ERMU Reserves policy, annually after the audit the year-end reserve balances shall be <br />reviewed and the ERMU Commission shall consider any balances above or below target levels. <br />Theresa Slominski reported that at the conclusion of the 2010 audit, the current reserves balances are <br />at target levels. <br />Last year the Electric Department Reserve Policy did not have the purchased power component <br />included. With looming double digit wholesale power rate increases forecasted by Great River <br />Energy, the wholesale power cost component of the ERMU budget will continue to grow in <br />significance. Staff is recommending the revision of the Electric Reserves Policy to include a <br />component for purchased power. <br />Al Nadeau moved to modify the Financial Reserves Policy to include a component for <br />purchased power. Daryl Thompson seconded the motion. Motion carried 3-0. <br />5.2 Review Annual Water Ouality Report <br />David Berg updated the Commission on the Water Quality Report that will be sent to ERMU <br />customers. Consensus was to receive and file the Annual Water Quality Report. <br />5.3 Review and Consider Off Peak Demand Electric Service Tariff Revision <br />Troy Adams discussed a revision to the current Off Peak Demand Electric Service tariff. By <br />changing the start of the On -Peak period from 1:00 p.m. to 2:00 p.m. there is greater opportunity to <br />utilize this rate for the commercial customers without increasing the wholesale power cost risk <br />exposure. <br />AI Nadeau moved to approve the revision of the On -peak time of the Off Peak Demand Electric <br />Service tariff to be from 2:00 p.m. to 10:00 p.m. Daryl Thompson seconded the motion. Motion <br />carried 3-0. <br />